SEOUL: General Electric Co on Tuesday plans to sign a deal to sell a 23 per cent stake in South Korean auto finance firm Hyundai Capital to the latter's majority owner, Hyundai Motor, and affiliate Kia Motors for about 800 billion won ($679 million), domestic media reported on Monday.

Hyundai Motor, South Korea's biggest automaker, and second-ranked Kia Motors, plan to buy 3 per cent and 20 per cent stakes respectively in Hyundai Capital from a unit of GE Capital International Holdings Corp, Yonhap Infomax said, without identifying sources.

The GE unit currently owns 43.3 per cent of Hyundai Capital, while Hyundai Motor controls 56.5 per cent of the company. Kia Motors has no stake in the unit.

Hyundai Motor is considering the acquisition of a stake in Hyundai Capital but nothing has been decided, a spokesman for Hyundai Motor and Kia Motors told Reuters.